Atlanta-based multifamily development and management firm Wood Partners is eyeing 21 acres of land in Winter Garden once slated for a $70 million golf academy.
The project was to be an expansion of the Core Golf Academy, which formerly had a presence at the Orange County National Golf Center and Lodge. It was proposed by Tom Jackson who, through entity Core Real Estate Limited LLC, purchased the land in 2014 for $2.1 million with the help of a private investor.
The $70 million Core Academy project was never built out. According to public records, Jackson filed for bankruptcy in 2017. He had brought the Core Golf Academy from Toronto to Orlando in 2006,
In 2016, Core Real Estate Limited LLC changed its name to Avalon Real Estate Limited LLC. The company is currently managed by Robert Mautner, vice president and co-general counsel at a financial planning firm based in Los Angeles called European Investment Management Services Inc. It specializes in representing domestic and international clients through various business affairs.
In September, a company led by Bryan Borland, a managing director for Wood Partners, submitted an application in Orange County seeking to convert the land’s current entitlements to allow for up to 350 multifamily units.
The present Land Use Plan allows 100,000 square feet of commercial uses and 645 dormitory beds.
Plans to amend the current LUP were reviewed by Orange County’s Development Review Committee earlier this week. At the meeting, the committee asked the developer to submit a revised plan that would include certain amendments to the project’s access points.
The land sits on the northeast corner of Old YMCA Road and Avalon Road, across from the golf center. Orange County bought a portion of the property in 2017 for $36,500.
The Core Golf Academy expansion plan promised to offer more than 600 junior golfers a place to stay and train. Academic partners included Windermere Preparatory School and the Central Florida Preparatory School in Gotha. According to published reports, Windermere Preparatory School expressed interest in leasing a portion of the dormitory beds.
Avalon Real Estate Limited LLC, has filed at least three extension requests for the Core Academy project since 2017. Dennis Crema, who sued Jackson in 2016 for allegedly failing to pay a secured non-recourse promissory note of $250,000, is listed in the letters issuing the extension notifications.
The site remains vacant.
Wood Partners is a national real estate company that acquires, develops, constructs and manages multifamily communities.
In Central Florida, it has developed a number of luxury multifamily developments, some of which have been sold to large real estate investors like Lantower Residential. In June, GrowthSpotter reported that Wood Partners sold a rental community called Alta Grande to the Dallas-based firm. The 314-unit complex at 3512 Grande Reserve Way sold for $74.7 million.